Less than 1% of 1MDB money recovered, Dewan Rakyat told

KUALA LUMPUR: Only RM1.5 billion out of the total RM150 billion cash and assets linked to 1MDB has been recovered so far, said de facto law minister Liew Vui Keong.

He said this means less than 1% of the amount due has been successfully recovered.

He said this in response to an additional question from Tuan Ibrahim Tuan Man (PAS-Kubang Kerian) who had asked the minister to state how much money and assets related to 1MDB had been recovered so far.

Liew also told the Dewan Rakyat that the purpose of the National Anti-Financial Crime Centre (NAFCC) was to recover 1MDB’s money and assets held abroad.

“It is set up as a coordination centre to coordinate with different agencies to bring back money and assets held abroad,” he said.

Liew said the centre is Putrajaya’s initiative to ensure that all such money is returned to the country to benefit all Malaysians.

Previously, Attorney-General Tommy Thomas had said that to date, Malaysia has recovered RM1.335 billion of 1MDB funds allegedly misused to buy assets in the United States.

In May, Finance Minister Lim Guan Eng said the money recovered will go towards repaying RM40.2 billion in 1MDB’s debts, as well as RM10.8 billion in interest.

This includes RM8.6 billion that the finance ministry had forked out for 1MDB.